how much of a surprise was this macy's number and release in. >> i think the macy's number, the compave been a surprise but the impact on earnings is the surprise where's the margin and where's the flow-through is the ke question that i think for 2019 with sg & a up and margins down, that's not the equation you want to see the weakness they had and the underperformance in certain categories combined with a fulfillment center and promotion that didn't work was an impact, and an impact when transactions were up and yet international tourism do a little better, they couldn't recover from it there's a lot of work that's still to be done. >> shome questions, jan. macy's problem, broader consumer spending problem >> oh, it's not a consumer spending problem consumers are fine the number put out is strong, a strong consumer. not just a macy's problem. i didn't think any of the releases today were very good. they ranged from okay to not so great and even the target release which was strong on the top line they didn't show any increase in earnings i mean, they didn't raise their earnings guida

problems are macy's and macy's alone and how much are transferable to other stores like macy's as opposed to stores that are unlike macy's that may be doing better? >> i think looking at macy's versus kohl's is a good example because kohl's has reimagined its offer. they brought in some new merchandise categories and, you know, changed around the stores and stores look great. they're accepting amazon returns and doing a lot of untraditional things and i think that's working for them although, comped strong from last year and raised guidance to the high end of the range. so i think it's a different story there. i do think that the department store model is a little bit challenged and people are just, you know, shopping is distributed. we're shopping everywhere. looking at brands that are very broad and our influences are broad. we're no longer going to the department store as the arbiter of what's cool but there are things self-inflicted with macy's. >> thank you both. liz dunn and then the tough state of retail today. >> thanks for having me. >>> up next, our special series. investing for

macy, the actor whose name conjures thoughts of jerry londongard a role so good macy told the director ethan cohen he had to get it or else. >> i said, nathan, you give this to somebody else, i'll just shoot your dog. i don't recommend that, folks. it's not a good thing to do. don't you, actors, don't do that, but it struck his sense of humor. >> a sunday sit-down with william h. macy. harry smith also in another life well lived later in the show. >>> what happens next? the federal government will be open tomorrow with the end of the shutdown. could we be right back here where we started, though, in less than three weeks? nbc correspondent kelly o'donnell has the later. >> reporter: a feeling and routine they have not none since before christmas. hundreds of thousands of federal workers are back on the job tomorrow with lump sum back paychecks the next few days. with the new normal a new countdown to the next budget deadline february 15th. washington's reboot is taking time. visitors to d.c. attractions still faced closed doors this week. >> we are here and we can't go to the smithsoni

compared to the $25 billion at macy's.et's see how they did before we make a call on this holiday season amazon, now they're probably up to $200 billion in the u.s they're growing rapidly in the marketplace there. their numbers are going to be very high as well. high numbers in the off price players, the t.j. max, burlington coats of the world, et cetera. anyone who's offering value. also, anyone who has a good marketplace. i like etsy a lot, amazon a lot because they make money no matter what happens. they tie a little bit of everybody's sale there are differentiated places too that are vertical and have a lot of margin so they can afford the extreme cost of doing business on the internet like a lululemon or nike and they're going to keep doing well. >> can i ask you a quick nonretail question because you're on the board of bristol-meyers and that stock is basically plummeted this year. how are you guys going to convince investors >> i appreciate you asking but a board member really shouldn't talk about their company i th

but let's remember, macy's is a mall play. kohl's and target have stand-alon stand-alon stand-alones >> some happened between black friday and the end of december because they said it seemed like a light switch went off and the consumer stopped spending in that eriod. >> it's not so much -- i think, first of all, it was a margin miss on macy's that was a big problem. the top line was weaker. it's a holiday miss. i thought the holiday sales were going to be fantastic so i'm surprised by some of this despite the fact we were warned by amazon way back when. in macy's case, part of the issue is this company getting out of this destructive cycle of having to promote your way into sales. the top line is okay the bottom line is not very good i think they're giving the store away again and i think that's an issue for department stores. >> i think 2018 was a really interesting year we had this tax cut. there was a lot of enthusiasm about a consumer-led recovery here in the u.s. but we also had this thing bookended by 800,000 u.s. worke

macy's needs to clear out all that inventory but, and this is a big but, macy's is not representativetire group while the numbers from kohl's and target weren't perfect either, they weren't anywhere as bad as macy's. kohl's raised numbers. but that didn't stop both the stocks from getting slammed along with macy's. let's take this analysis one step further the retail stocks are down so much that i think they reflect the potential negatives fully and none of the potential positives. macy's has erased nearly two-thirds of the entire moves kohl's down from the highs and 10 from the lows gives you nearly .7 ield target is down 22 points from the high of its peak and only up eight from its lows, 3.57% i think all three can say value plays, although we own kohl's for my charitable trust, which you can follow by joining the actionalerts.com club. and we did downgrade kohl's from a 1 to a 2 earlier this week 1 is a buy 2 is a buy over weakness why? i fear correctly that people wouldn't like the holiday sales. now let's take a step back for a second and figure out what's really going on here w

macy's shares had grown 80% from thanksgiving 2017 to thanksgiving 2018. >> macy's being on mall, macy's being an appelretailer, those are tough structural places to be. that is a little bit different from the kohl'sstory, whi has done a great job in active and target, which has done great with toys, home, baby. >> like macy's, kohl's holiday sales improved more than 1% with double-digit growth online. unlike macy's, kohl's the lower ending of its earnings forecast. targ so far reporting the strongest holid results, with comp sales up almost 6%, thanks to strong shopper traffic. toys, babyif and seasonal gts were target's strongest categories during the holidays. target i holding its previous earnings forecast studies. the good news is analystsay the u.s. consumer is healthy. >> the consumer is fine. they'r all working, their wages are going up, they're fine. the problem is the cost structure in retailing is dramatically going up. >> e-commerce businesses are currentl more expensive t run for retailers that began as physical stores, making online sales less profitable than sales in brick

macy," star of the hit show "shameless." "his "fargo" role was a role so good he told director ethan cohen he has to get or else. >> ethan, if you give this to somebody else, i'll shootour dog. he just got a new dog. i don't recommend, that folrs. ac don't do that, but it -- it struck his sense ohumor. >> a sunday sit-down with willia h.acy and harry smith and another life well lived. what happens next now that the federal government will be open tomorrow with the end of the shutdown? could we be right back here where wetarted though in less than three weeks. c's white house correspondent kelly o'donnell has the latest. >> good morning,willie. >> it's a feeling and routine they haven't known since before chri hundreds of thousands of federal workers are back on the job tomorrow with lump sum backpaychecks coming over the next couple of daysth and wit new normal there's a new countdown to the next budget deadline february 15th. >> washington's reboot is taking time. visitors to d.c. attractions still face closed doorshis week

chaff now or macy's is the wheat? >> i would still say there's a lot of positives going on. we have macy's rated at investment grade, meaningful for a department store one of the department stores out there and over time, i think they get it. >> guys, thank you charlie o'shea and courtney reagan talking to me about what's happening in retail investment grade, one last thing before we go, no u.s. company issued below investment grade bonds since november that's according to "the wall street journal." today's day 41 the longest without a high yield sale in two decades. market turmoil is the main reason but the junk bond market is also streaming as more are opting for places out of sight of the market. as always, we welcome your thoughts tweet us, e-mail us your feedback right here on "the exchange." that does it for us. i'll join tyler and melissa for "power lunch." melissa? >> see you in just a minute. i'm melissa lee. easter what here's what's new at 2:00. >>> the powell plan. did he make the case and plus, special se

still, kohl's shares are down more than 7% held down by action in macy's.arget is reporting the strongest holiday results, comp. sales 5.7%, thanks to strong traffic, and slight up tick in the average transaction. online sales at target grew 29%, with stores fulfilling three-quarters of the digital sales. toys, babies, seasonal gifts, the strongest categories for target and target is maintaining the full year adjusted earnings forecast and sales forecast. still, shares are being pulled lower more than 4% because of what we heard from macy's. master card reported for november and december, total retail sales based on actual spending were up 5%. but clearly it was not the jolliest holiday for everyone in the group. back over to you >> courtney reagan, thank you. for more, bring in former walmart u.s. ceo bill simon on the cnbc news line good morning to you. >> good morning. >> in terms of macy's in the pre-announcement, the fact that you have other retail names trading lower, including target as well, is this something that investors should read through as a

so macy's continuing to fall. michelle take, from bank of america. , or as a consumer worry company retail worry? guest: we've seen this for some time, where people have shifted away from brick-and-mortar. i don't think it is anything particularly new, but there was hope that the department store model would be able to change and compete in little more. i think there's also a lot of concerns around holiday sales in terms of the timing. black friday started off strong. that was different than last year, where it ended the holiday season robust. it is also hard to determine what is the signal around the timing. david: every year i can't figure -- if blackfriday friday is good or bad. it seems like the rules change. guest: i think part of it is when the promotions are, how retailers are trying to target their audience. david: turning now to the government shutdown, we are in the 20th day of that shutdown. thehe end of the day, president had stormed out of a meeting at the white house, calling it a waste of his time.

taylor riggs, this is across the board, not just macy's. >> we will start with macy's, because it isthe stocks off the most this morning. come into the terminal. as we know, store sales is the key indicator we are looking at and they are pointing at disappointing numbers. it is below expectations of 2.2%. and we now see for the first time this quarter, it will come in less than 2% according to the earnings estimator. heavy discounting and promotions did not do enough to really help spur sales as they got through cyber monday and into black friday, into the rest of december. mid-december things started to slow down and it did not pick up after that. that will be weighing on margins. they are going into 2019 with lean inventory. and if we want to look at the trends, come back into the terminal because it really shows foot traffic and what has happened. black friday, cyber monday, they were great, but things started to slow down as we got into it and traffic just continuing to slow down, even as we get into january. guy: it is not just macy's, it is a lot of retailers. and i will draw a

so is this a macy's problem or a retail problem?dy's lead retail analyst charlie o'shea joins us now. good morning charlie. >> good morning. good to be back. tracee: i want to ask you, macy's chief executive said the holiday season began strong, particularly during black friday, cyber week, and then what happened? what happened to sales? >> i think a lot of retailers got caught up in the early promotion cycle. i think that we had amazon come out early. we had walmart come out early. they're in a pitch battle for market share. both of those companies were promoting early and often. and it's hard for any other retailer to compete with that. and one of the things that i think we all need to be mindful of is the fact that during the holiday, we put out a 5 froe 5%% sales forecast at moody's. we didn't expect a lot from the department stores. costco and target so far have posted really strong numbers for the holiday. tracee: is this a macy's problem? is this a mall problem? were people not going to the malls? >> that's going to be an int

macy's up 102%. kohl's up 105%.like disappointing sales to you. >> dick en, best of times, worst of times. "tale of two cities." still very good times for macy's and colds, rest of retail, accelerating price age. 400% over storage, to 150% overstored in bricks and mortars. they're selling retail stocks, instead of picking few of ones that are positive, your points, susan, macy's kohl's, amazon, walmart, costco, bj's, people buying on price and promotion. retailers good at both like those are still winning. stuart: cue the organ music please. we'll talk about sears. they kind of got brought back to life, i think it was a bankruptcy judge a 5 billion-dollar move into sears by eddie lampert. okay. just cut to the chase. when are they going out? >> they should be going out monday. bankruptcy judge, bob drain has really regrettable record of letting the bankruptcy firms others run roughshod over creditors. lampert is lifetime loser. a guy who is negative on same-store sales for 50 consecutive quarters should not be allow

this is not just a macy's story. how are other retailers faring?a: we heard from target, kohl's, all of them doing poorly in the market today. target interestingly beat expectations for its holiday sales. it beat last year's cop that is being dragged down as other retailers do poorly. analysts are concerned that because they didn't provide any color around earnings-per-share, the stronger than expected sales may have come at the expense of margins. , they didn'tkohl's beat last year's sales. comp sales for the season beat estimates, they tightened their eps forecast for the full year. but still, from a number of analyst notes i'm reading, is that this is perhaps as good as it gets in retail. that is what jason is saying. amanda: emma chandra, thank you. it is time for the bloomberg business flash. eddie lampert has raised his bid to keep the retailer in business. his hedge fund has made an offer of more than $5 billion to cover severance for workers and bills from suppliers. sears is on the verge of liquidation after the rejection of an earlier off

lost 18% on macy's yesterday. things really that bad or was this a market over reaction we'll talk about it. >>> and later on, a big bet on bird box a one-top ranked analyst is telling clients to buy netflix because of sandra bullock. stick around ♪ what's a gig of data? well, it's a whole day's worth of love songs. [ baby crying ] or, 300 minutes of baby videos. a gig goes a long way. that's why xfinity mobile lets you... ...pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay even less for data. or, if you need a lot, we have unlimited too. plus get $100 back when you buy an lg or moto phone. it's simple. easy. awesome. click, call or visit a store today. ♪ ♪ >>> all right. welcome back good friday morning. 5:14, here we go might get a little snow over the weekend. we'll see in new york. thanks for being with us stock futures are basically flat right now. we've had a beautiful rally to begin the year for the equity markets. the russell 2000, the small caps -- when they play tha

put it all together, and it makes me think that macy's has some unique issues that don't reflect what's going on in the rest of retail last week pvh, the parent of calvin klein and tommy hilfiger, that wasn't enough to save the venerable department store chain. i still don't understand why target and kohl's stocks got killed, except that they reported non-blowout numbers on the same day that macy's truly disappointed i guess people expected stupendous same store sales and that didn't happen kohl's and target are being hurt by a resurgent walmart which is coming in under them in many cases. watch this walmart stock i think it's going to continue to go higher kohl's's unique brand pricing and remember we visited that, they've got the best brands for less target's got great house brands. plus let's not forget that kohl's guided up, not down why else might a big department store like macy's being having trouble attracting customers maybe it's about fun retailers are doing well, and we try to draw conclusions about what that means. i think it's about giving people a chance to have fun in a n

. ♪ charles: shares of macy's and other retailers tumbling after macy's reported disappointing retail cut their earnings outlook. despite overwhelming evidence of improving economy and better initial jobless claims this morning, retail news, is it only about brick-and-mortar retailers or are consumers running out of money? here to analyze this is a herzog analyst. >> nice to see you. charles: bed, bath & beyond nice move, low bar to carry. target put out strong numbers. stock was looking pretty good. one-two punch cold and macy's, people are wondering what happened to the consumer? >> nothing happened to the consumer. consumer was great. we saw strong sales over holiday season. mastercard came out with number, sales up 5.1% for the season. this is a good thing. they feel good about the economy. they feel good about the job situation. what is happening here is story of retailers. when we break it down even more, it's a story of two different retailers. so target is broad facing. they have a lot of product mix in there. they have really good digital strategy. digital sales up 25%. each

that's how many years retail giant macy's has been selling clothes, and holiday cheer. founded back in 1858 but the number of years it has left may be dwindling. holiday sales reports are trickling in and macy's wasn't pretty up only 1.1% in november and december for stores open at least a year. the stock dropped more than 17% on thursday in response, but macy's isn't alone rivals kohl's and j.p. c penny have also seen poorer than expected holiday sales numbers and amazon announced record breaking sales with more than 1 billion items shipped free in the u.s. leading up to christmas day. in the view of some critics traditional department stores are continuing to follow a 19th century model while shoppers today want 21st century amenities such as value, entertainment and services, we see another iconic brand sears facing the threat of liquidation after it failed to respond to changing times so will macy's and long established stores find their footing or simply end up like another 19th century classic, the horse and buggy? well that's it for us this week, i'll be back nex

reporter macy jenkins got as far as soda springs and sent this report.ne video] it began as a calm winter afternoon in the sierra - d -liconditions had started to brew. [celine wang - visiting from san jose] sot: 34:31 "my brother is visiting from taiwan. it's his first time seeing this kind of snow" (4) traveling on a largely deserted i-80, we pulled over at boreal to talk to celine wang. nat: 34:41 "just to see this - it's a once in a lifetime experience." (3) but 5 minutes later, we found ourselves stuck. nat: snowboarder: "we gotta get you outta these ruts so you gotta go forward." (4). luckily - three snowboarders came to our rescue. nat: another nat and 15 minutes later, we sped off to safety. another nat? earlier today at the truckee airport, we spotted this parked plane, sitting only on its back wheels. the safety control manager explained -it was the weight of the overnight snow that weighed down the plane, causing it to tilt. at mountain hardware - jack napton says he's seen a steady stream of visitors coming in - desperate for chains. sot:24:4

>> i think macy's, look, macy's is fashion, macy's is watches and sports wear, okay.ple and lulu. they have the wrong women's sports wear. the lulu quarter was unbelievable lulu versus everything i'm saying, stop trading on this stuff. it is not that bad if december were bad and january bounces back, we'll be saying why did we sell jpmorgan at 97 when it is 110 yeah david, a fortress is a fortress is a fortress. >> you have to have the fortress principles not enough to have the balance sheet. got to have the principles. >> he knows -- >> can't have the balance sheet without the principles >> can't just do it with kronus. >> no. >> when we come back, we have been discussing the shutdown, we'll talk about what delta ceos is telling cnbc about the impact on his airline chipotle's brian nichol took the job ten months ago since then, the stock jumped 55%. got some calls on oracle today tuse talking ge. i'll filling you in on this, and preliminary results when "squawk on the street" continues i'm ken jacobus and i switched to the spark cash card from capital one. i earn unl

you're looking at the read on some retailers which yesterday didn't look so hot, particularly at macy'seven names like apple which looked strong heading into q4 have tailedoff, what are you expecting? >> i think, jon, with regard to apple, you have a push, pull whether it is a hardware or software and services company. at any one point, one of the pushes or pulse is in the ascendancy i think the next three weeks, folks that think apple is a hardware company and news is not terribly good. the problem in china is a substantive one. the main thing that's underemphasized, for the chinese, important thing is the game platform. we chat controls that, and we chat is agnostic on the device it is on why pay 3 x for apple versus 1 x for the android. china will be a problem until they build software. go back to the united states i think the news is pretty good there. with master card numbers, there's room for nonstore retailers to do good or very well, i think apple is the classic nonstore retailer, particularly in the software and services area. so i'm looking for much better performance once app

macy's plummeted 18%, the worth single day for macy's stock in history.eak holiday sales and indictme dimmed guidance. jc pen any ny and nordstrom fel well. >>> taco bell is testing out a vegan menu. and also highlight current vegetarian options. the fast food chains putting all of the meat free items on one menu should make it easier for vegetarians to see their options. ♪ >>> okay. this is every kid's favorite and it is swimming up the charts. baby shark, which spawned a dance challenge following the release of the 2016 version, came in at number 32 on the billboard hot 100 top 40 chart. the viral children's song, let's listen. ♪ 20.8 million streams. baby shark comes in at number two on kid digital song sales which it led for 11 weeks. >> i'm daddy shark, so -- you're mommy shark. i think we have grandpa shark in the house. >> you're welcome, america. that will be in your head now. >> 2.1 billion youtube views. >> unbelievable. >> all the parents out there pulling their hair out this morning. "early start" continues right now on day 21 of the governmen

the macy's results suggested it could not last that much longer. : let's talk about target.y seem to be doing better. investors still punished them. are they showing real traction? >> i think they are. that increase in comparable sales was really strong. byot of this was driven traffic, right? by getting more bodies in their stores. one thing target has been really good at has been remodeling its blend online and in-store shopping. it has these >> and collect counters position right near the door to make it easy to do a buy online pickup in-store order. they have drive and services were you buy online, they put it in your car at the store. postings were important in driving growth and offer suggestions for what other legacy players should be doing to grow in this environment. caroline: we talked about peak christmas in a way. perhaps this is as good as it gets, but in the earnings season we are about to throw ourselves into, will we get this divest a vacation of companies that got it right and companies that misjudged perhaps the ? scounting >> i think we will definitely con

kohl's saw its holiday sales grow similar to macy's and it increased part of its forecast. lulu lemon, american eagle and tillie's saw among the strongest sales growth. while men'snd warehouse joseph a. bank reported a drop in holiday sales along with j.c. penneynd a express. it's still hard to know how the out.on averaged for "nightly business report," i'm courtney reagan in new york eity. >>> and before go, a final look at this day on wall street. of course affected by tha historic brexit vote in the uk, the dow added 155 pointh. nasdaq was up 117, led higher by netflix, by the wat on t price increase. and the s&p 500 rose by 27. of course it would be very interestingo see how the european markets respond tomorrow to the brexit vote. wet may have t no-confidence vote in parliament as well. so another historic day could b in theffing tomorrow as well. >> and we will be here to cover it all for you. that does i for "nightly business report" tonight. i'm sue herera, thanks for joining us. >>if'm bill th. have a great evening. we'll see you >> this is "bbc world news america.

macy's says same-store sales during november and december were up just 1.1 percent.ent store chain cuts its sales and profit outlook for fiscal 2018. macy's shares crater on the news, dragging other retail stocks down, including target and kohl's.target says its 2018 holiday same-store sales rose 5.7 percent. that's compared with growth of 3.4 percent in 2017. the retailer is maintaining its same-store sales forecast for the fourth quarter and profit outlook for fiscal 2018. winner: oracle wins naming rights to the san francisco giants' stadium, replacing at&t . . . the san francisco giants' home stadium, at&t park, will be known as oracle park in a deal that is effective immediately, the san francisco chronicle reported. oracle clinched the naming rights just as it is losing its rights to the home of the golden state warriors, as the team moves to the new chase center. oracle paid more than $200 million for the naming rights over 20 years. this comes just as the company is losing the naming rights to the golden state warriors' home stadium in oakland as they move to

macy and rebecca traistor. featuring jon batiste and stay human. and now, live on tape from the ed sullivan theater in new york city, it's stephen colbert! ( cheers and applause ) >> stephen: woooo! come on! hey! how are you? beautiful. perfect! perfect! thank you, ladies and gentlemen. thank you down here, up there. up there. >> audience: stephen! stephen! stephen! stephen. >> stephen: that's nice. can't get better than that. ( cheers and applause ). >> stephen: thanks, everybody. thank you, so much. please, have a seat. welcome to "the late show." i'm your host, stephen colbert. and it is-- ( cheers and applause ) you can just feel it. you can feel the vibe in this room. it's friday. ( cheers and applause ) it's also day 28 of the government shutdown. if the nation had started a cleanse, it'd be done now. ( laughter ) we had a big week here on "the late show." on tuesday? tuesday. new york senator kirsten gillibrand announced she's running for president right over there in that chair. big night, big night. ( applause ) it's the most historic pres

macy's share price virtually collapsed.re not dreadful, but they had to put a warning out and thatis they had to put a warning out and that is the problem. it is always this reporting season that comes up with these figures, particularly for the retail sector. victoria's secret down. lots of key high street, us high—street names posting losses. it is interesting against the backdrop of the uk where a lot of traditional retailers struggled in the christmas, the period of myself and people go shopping. black friday, the friday after thanksgiving in the united states, that did see a boost but it was not significant enough to tip the dial. this is all about the digital story. it was almost a full storm, that gave a sense of confidence that had to be pulled back again. ijust confidence that had to be pulled back again. i just wonder, confidence that had to be pulled back again. ijust wonder, i bumped into a colleague yesterday, who was returning goods after christmas. that is another big problem, particularly with online sales.

shares in us retailer macy's plunged after the operator slashed its full—year profit and sales forecastek holiday season, sending a chill through the wider retail. the indian government has announced the change didn't —— change in the company's change didn't —— change in the compa ny‘s goods and change didn't —— change in the company's goods and services tax which could help garner support ahead of a general election that must be called by may. our reporter joins us now from mumbai with all the details. how is this going to help india's small businesses?m the details. how is this going to help india's small businesses? it is really going to help them in a big way, because ever since the goods and services tax was introduced in 2017 there have been a lot of problems for small businesses like your retail stores, your mom—and—pop stores, which you find on the street. they have found it difficult to comply with the new rules, because there's a lot of paperwork, a lot of registration, and traditionally indian small businesses have never functioned like that. as you mentioned earlier, with in

own and macy's men@ç store, properties on 200 block sutter street.at that time, the department really expressed concern about doing that and we looked at the building topologies. the first incarnation of this actually said no conversions of the third floor. we made them impossible. my office really listened to the union square business improvement district and others as well as retail brokers and really sought to have some flexibility in the limited physical circumstances that were the subject of last week's amendment. i will defer to mr. starr if you want to add anything to this long-running conversation. >> you covered well. the staff report was initially to prohibit floors. the commission felt that we needed more flexibility on the third floor given the nature of retail and the dealty of leeing spacespace -- leasing spaces ou. >> i understand they felt what was the difference between third and fourth or fifth floor. why did they not like it being capped at the third floor. >> my understanding, retail -- people generally don't want to go up elevato

while macy's sales grew slightly, we knew that was disappointing.led them to cutting their annual forecast, sending the stock to log the worst-ever single-day performance now, tailored brands, the parent of jcpenney, express, all of those did see their holiday sales fall so while we've got lots of pieces, without the government report as the broad equalizer, it's a little hard to know exactly how the season averaged out. morgan >> and it may be a little hard to know exactly how it averaged out, but courtney reagan, that was a great job taking a whack at it. thank you for joining us >>> sticking with retail, shares of nordstrom at a more than one-year low after weak holiday sales. macy's, kohl's, target, all in focus as analysts caution about outlook this year. and of course, that shutdown is not helping. joining us now, here at post nine in an exclusive, former jcpenney ceo and former head of apple ceo, ron johnson, who currently runs enjoy.com great to see you here on set >> great to be here. >> after strong 2018 for retail sales, caution flags pop

i went to many of the suppliers of macy's.r was bad that's why i was so upset with the fed. if they made the calls to the suppliers, they would have realed there wreal realized there was a real down shift. i'm urging them to do the kind of work i do or go home. >> steve showed me something interesting. i was just talking about rules based fed. i'm not sure what to do with the fed. >> maybe make some calls i use this thing it's incredible. you speak to people. they tell you what's really going on it's kind of a shocker i actually like it i don't use the big data because it ain't worth anything. >> the fed is very powerful and they can make or break the economy. >> yeah, they're very powerful when it comes to making or breaking the economy are they powerful when it comes to figure out the same store week to week like kb homes like i have no pau because you've got to talk to lumber people. how boring are they? my wife says you're the most boring guy in san francisco. they have models i took that class. on the phillips curve. it w

macy's no bounce what so ever it's not just macy's it's dillard's and nordstrom >> it's the same thingis going there. >> dillard's didn't have a 15,t store in time square. >> i'm not sure as a consumer why i need this experience of going to a store do you need the experience for lulu lemon that's obviously working well. what's the experience we're looking for in retail? >> i like the app. >> real estate value. >> fashion watches, remember it was pointed out they weren't selling well i'm telling you apple watches are supply constrained they're doing well i want to hear what kelly said about the self-tying shoe. remember, tim cook is on the board of nike. >> self-tying shoe is great my 4-year-old has it, it's called velc velcro was ahead of its time. still, we never stopped making it stronger. faster. smarter. because to be the best, is to never ever stop making it better. the new 2019 c-class family. lease the c 300 sport sedan for $429 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. we're finally going on the trip i've been promising. because with expedi

, and everything is now a macy's. but why do you imagine that these sites are morn for making rights?o sism >> it included a lot of middle class stuff. flexibility in society -- >> yeah. anyone else? yeah. inaudible] >> yeah. >> it was very important to look the part of a citizen. and so being able to actually spend money in places that like spoke of middle class respectability and spoke of middle class citizenship was highly important and actually like train yourself as middle class citizens. >> absolutely. and most basic level, think about it. you walk into one of these places that look like museums of consumption, right? they're palaces of some sort. it's important to note that the ceiling here, it's done by tiffany's. it's in gold. i mean, these are places that are just -- and in the early 20th century they are places of luxury, right? so you go into the department store and what does it look like to you? have you been in a department store just -- i feel like everybody is just shopping online. yeah. so what does

macy's and kohl's store add weaker a holiday sales and macy stop plunging by 80%, kohl's store plunging by 9% but the target cells were pretty strong and the stock is down by 5% in the early going. there's more pressure in the stock market priming from the government shutdown with 800,000 on unpaid leave fear in the jobless claims report that is counted separately. as far as the jobless claims, down at 702,000. the dow dropping in the s&p down as well. >> thank you jason. >>> it is 6:45 am. >>> let's take a look at what is coming up later on cbs this morning. >> good morning. just ahead on cbs this morning, we are along the us-mexico border before the visit from president trump this afternoon. >>> some of the food you eat may be at high risk because the shutdown has forced the fda to suspend food inspection at some facilities. >>> you may be giving up your privacy by using the popular weather app and one senator is fighting to keep your information safe and hold the tech companies accountable. >>> in the more perfect union series this rare and historic surgery that turns strangers into

everything is now a macy's. why do you imagine these are important? for making claims for civil rights? it included a lot of middle-class stuff, like [indiscernible] in society. prof. parker: anyone else? >> [indiscernible] >> [indiscernible] important to look the part of a citizen, so being able to spend money in places middle-classl of respectability and spoke of citizenship was important to actually forgery yourself as a middle-class citizen. prof. parker: on a most basic level -- you walk into one of these places that looked like museums of consumption, palaces, it is important to note the ceiling here is done by tiffany's. it is in gold. these are places that are just, in the early 20th century, they are places of luxury. so you go to the department store -- have you been in one? i see everybody shopping online. what does it look like now to you? >> i feel like it is not cool. >> [laughter] i feel like the idea that to bea middle-class hire in jobs in retail doesn't really fall anymore. prof. parker: they are working class. these are jobs, some o

at that time, and it is no longer true now, the library was on the same floor as macy's, a department store was at. and my mom and i were there at macy's one afternoon, and i saw a direction sign that said public library, pointing to the back of the floor. and i looked at mom and said, can we go look at that lacks and she took me in through the doors, and that was a new world for me. i've never seen so many books in one place in my entire life. my mom had a small couple of shelves in our apartment, but this was shelf after shelf, row after row of books. and i just wandered around with my eyes wide open, trying to imagine what it was like to be able to read all those books. well, i tried but i didn't succeed. there were too many of them. but the point really was that i found a safe haven. it became my place where i could escape from the sadness in my home and find a way to imagine myself somewhere else. and that still, books are my escape. when i am sad i pick up a book and start reading, and i immediately either laugh if it is at' funny book, if it's a serious book it makes me think a